License Error on 5.3

Testing 5.3 on a virtural Win7 pc and I get the following error:

[A12480]Arbortext Editor was not able to obtain a license for your use. Feature Arbotext Editor:unable to find and read license file. (have you run the License Administrator program?)

I ran the License Adminstrator and there is a 6005.lic with the correct key in the license directory.

I have reinstalled and changed keys with the same error.

Any ideas? Thanks for your help.